Episodes

There are two ways to grow an RIA. Organically from expanding existing client relationships and bringing on new clients. And inorganically, from acquiring practices and/or attracting advisors to join your RIA and bringing their clients with them. When doing the latter, it is important to understand the competitive landscape and what is expected of joining advisors. In the latest episode of my RIA question and answer series, I discuss 7 mistakes to avoid if trying to attract advisors to join ...

There are two ways to grow an RIA. Organically from expanding existing client relationships and bringing on new clients. And inorganically, from acquiring practices and/or attracting advisors to join your RIA and bringing their clients with them. When doing the latter, it is important to understand the competitive landscape and what is expected of joining advisors. In the latest episode of my RIA question and answer series, I discuss 7 mistakes to avoid if trying to attract advisors to join ...

There are two ways to grow an RIA. Organically from expanding existing client relationships and bringing on new clients. And inorganically, from acquiring practices and/or attracting advisors to join your RIA and bringing their clients with them. When doing the latter, it is important to understand the competitive landscape and what is expected of joining advisors. In the latest episode of my RIA question and answer series, I discuss 7 mistakes to avoid if trying to attract advisors to join ...

I admit it, I critique the wirehouse brokerage model a LOT. Considering how much it contrasts with the RIA model, there’s lots to be critiquing! What if the wirehouse model could be improved though? In the latest episode of my RIA question and answer series, I discuss 8 ways the wirehouse model could become more competitive with the RIA model: Think of your advisors as your clients. Tell your advisor “clients” they are all free agents. No gimmicks with the payout. Better yet, invert your ...

I admit it, I critique the wirehouse brokerage model a LOT. Considering how much it contrasts with the RIA model, there’s lots to be critiquing! What if the wirehouse model could be improved though? In the latest episode of my RIA question and answer series, I discuss 8 ways the wirehouse model could become more competitive with the RIA model: Think of your advisors as your clients. Tell your advisor “clients” they are all free agents. No gimmicks with the payout. Better yet, invert your ...

I admit it, I critique the wirehouse brokerage model a LOT. Considering how much it contrasts with the RIA model, there’s lots to be critiquing! What if the wirehouse model could be improved though? In the latest episode of my RIA question and answer series, I discuss 8 ways the wirehouse model could become more competitive with the RIA model: Think of your advisors as your clients. Tell your advisor “clients” they are all free agents. No gimmicks with the payout. Better yet, invert your ...

Walk into a hair salon and ask the stylist if you need a haircut. Any guesses what their answer will be?! The same can be said depending on who you ask about the timing of transitioning your practice to a new firm or affiliation model. In this episode of the Transition To RIA question & answer series I help you block out the noise, and focus on the variables that matter. Who you should listen to, and who you shouldn’t. Timing considerations worth recognizing. How I answer this question myse...

Walk into a hair salon and ask the stylist if you need a haircut. Any guesses what their answer will be?! The same can be said depending on who you ask about the timing of transitioning your practice to a new firm or affiliation model. In this episode of the Transition To RIA question & answer series I help you block out the noise, and focus on the variables that matter. Who you should listen to, and who you shouldn’t. Timing considerations worth recognizing. How I answer this question myse...

Walk into a hair salon and ask the stylist if you need a haircut. Any guesses what their answer will be?! The same can be said depending on who you ask about the timing of transitioning your practice to a new firm or affiliation model. In this episode of the Transition To RIA question & answer series I help you block out the noise, and focus on the variables that matter. Who you should listen to, and who you shouldn’t. Timing considerations worth recognizing. How I answer this question myse...

An important role financial advisors perform for their clients is to help them avoid mistakes with their financial well-being. Likewise, when advisors transition their practice to the RIA model, there are mistakes that should be avoided as well. In the latest episode of my RIA question and answer series, I discuss five common mistakes to be aware of and to avoid: Mistake #1 - You don’t obtain legal advice when breaking away. Mistake #2 - You only consider one firm/model. Mistake #3 - You do...

An important role financial advisors perform for their clients is to help them avoid mistakes with their financial well-being. Likewise, when advisors transition their practice to the RIA model, there are mistakes that should be avoided as well. In the latest episode of my RIA question and answer series, I discuss five common mistakes to be aware of and to avoid: Mistake #1 - You don’t obtain legal advice when breaking away. Mistake #2 - You only consider one firm/model. Mistake #3 - You do...

An important role financial advisors perform for their clients is to help them avoid mistakes with their financial well-being. Likewise, when advisors transition their practice to the RIA model, there are mistakes that should be avoided as well. In the latest episode of my RIA question and answer series, I discuss five common mistakes to be aware of and to avoid: Mistake #1 - You don’t obtain legal advice when breaking away. Mistake #2 - You only consider one firm/model. Mistake #3 - You do...

Several independent broker-dealers have introduced “IAR-only” affiliation options. Is this something you should consider for your own practice? In this episode, I address 5 topics related to these new channel offerings: What is an IAR-only affiliation option? Why are broker-dealers creating them? How do these IAR-only channels compare to alternatives in the marketplace? Who will these IAR-only channels mostly appeal to? What broker-dealers can do to improve their IAR-only offerings. Come ...

Several independent broker-dealers have introduced “IAR-only” affiliation options. Is this something you should consider for your own practice? In this episode, I address 5 topics related to these new channel offerings: What is an IAR-only affiliation option? Why are broker-dealers creating them? How do these IAR-only channels compare to alternatives in the marketplace? Who will these IAR-only channels mostly appeal to? What broker-dealers can do to improve their IAR-only offerings. Come ...

Several independent broker-dealers have introduced “IAR-only” affiliation options. Is this something you should consider for your own practice? In this episode, I address 5 topics related to these new channel offerings: What is an IAR-only affiliation option? Why are broker-dealers creating them? How do these IAR-only channels compare to alternatives in the marketplace? Who will these IAR-only channels mostly appeal to? What broker-dealers can do to improve their IAR-only offerings. Come ...

Don't confuse the expenses of running an RIA as being "new" expenses compared to what you have now. Depending on your current affiliation model, you are likely already paying these expenses, they are just embedded in the payout you receive. In the RIA model, you have much more control over how to manage these expenses.....TO YOUR BENEFIT! In the latest episode of my RIA explanatory series, I discuss five of the largest expense items of a modern day advisory firm, and how to best manage them: ...

Don't confuse the expenses of running an RIA as being "new" expenses compared to what you have now. Depending on your current affiliation model, you are likely already paying these expenses, they are just embedded in the payout you receive. In the RIA model, you have much more control over how to manage these expenses.....TO YOUR BENEFIT! In the latest episode of my RIA explanatory series, I discuss five of the largest expense items of a modern day advisory firm, and how to best manage them: ...

Don't confuse the expenses of running an RIA as being "new" expenses compared to what you have now. Depending on your current affiliation model, you are likely already paying these expenses, they are just embedded in the payout you receive. In the RIA model, you have much more control over how to manage these expenses.....TO YOUR BENEFIT! In the latest episode of my RIA explanatory series, I discuss five of the largest expense items of a modern day advisory firm, and how to best manage them: ...

I have a lot of conversations with advisors that are in the wirehouse W2 type model, who want to move into a more independent model. Sometimes the default reaction they have is, "Maybe I should go into the independent broker-dealer model first and then move into the RIA model later." The phrase I sometimes hear is, "Maybe it's a step too far to go from this employee model I’m in now, all the way to the RIA model." I challenge that by asking, "Why is that? Why do you feel you need a stepping st...

I have a lot of conversations with advisors that are in the wirehouse W2 type model, who want to move into a more independent model. Sometimes the default reaction they have is, "Maybe I should go into the independent broker-dealer model first and then move into the RIA model later." The phrase I sometimes hear is, "Maybe it's a step too far to go from this employee model I’m in now, all the way to the RIA model." I challenge that by asking, "Why is that? Why do you feel you need a stepping st...

I have a lot of conversations with advisors that are in the wirehouse W2 type model, who want to move into a more independent model. Sometimes the default reaction they have is, "Maybe I should go into the independent broker-dealer model first and then move into the RIA model later." The phrase I sometimes hear is, "Maybe it's a step too far to go from this employee model I’m in now, all the way to the RIA model." I challenge that by asking, "Why is that? Why do you feel you need a stepping st...

A common misconception about the Registered Investment Advisor ("RIA") model is that you must be 100% fee-only to transition your practice to it. Most advisors, at the time of transitioning, are in fact not 100% fee-only. Many never plan to be going forward either. While the assets under the RIA itself are fee based accounts, there are several solutions to accommodate the existing commission part of your practice. In this episode of my RIA explanatory series, I address five different approach...

A common misconception about the Registered Investment Advisor ("RIA") model is that you must be 100% fee-only to transition your practice to it. Most advisors, at the time of transitioning, are in fact not 100% fee-only. Many never plan to be going forward either. While the assets under the RIA itself are fee based accounts, there are several solutions to accommodate the existing commission part of your practice. In this episode of my RIA explanatory series, I address five different approach...

A common misconception about the Registered Investment Advisor ("RIA") model is that you must be 100% fee-only to transition your practice to it. Most advisors, at the time of transitioning, are in fact not 100% fee-only. Many never plan to be going forward either. While the assets under the RIA itself are fee based accounts, there are several solutions to accommodate the existing commission part of your practice. In this episode of my RIA explanatory series, I address five different approach...